Proposed Decision Memo Looks Pretty Good for TAVR... +EW/ABT/MDT

Research evidence excerpt

Proposed Decision Memo Looks Pretty Good for TAVR... +EW/ABT/MDT

ect security(ies) and

subject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views

expressed in this research report.

I, Young Li, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and subject

company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed

in this research report.

I, Michael Toomey, CFA, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and

I, Matthew Aspro, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and subject

As is the case with all Jefferies employees, the analyst(s) responsible for the coverage of the financial instruments discussed in this report receives compensation

based in part on the overall performance of the firm, including investment banking income. We seek to update our research as appropriate, but various regulations

may prevent us from doing so. Aside from certain industry reports published on a periodic basis, the large majority of reports are published at irregular intervals

as appropriate in the analyst's judgement.

Investment Recommendation Record

(Article 3(1)e and Article 7 of MAR)

Recommendation Published June 15, 2026 22:10 P.M.

Recommendation Distributed June 15, 2026 22:10 P.M.

Company Specific Disclosures

Steven DeSanctis owns shares of Medtronic Inc. common shares.

Explanation of Jefferies Ratings